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Credit view of property firms rises
By Ding Yining |
October 30, 2012, Tuesday
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Print Edition
Print Edition
IMPROVING property sales and rising sentiment in the bond market are boosting the credit profiles of real estate developers, according to a latest research report.
"Capital raising in offshore bond markets have helped some developers to improve their liquidity and debt maturity profiles," Kaven Tsang, a Moody's vice president and senior analyst, said in the "China Property Focus" report yesterday.
So far US$2.32 billion worth of bonds have been issued by property firms since July, exceeding the US$2 billion issued in the first half of the year.
In September, contract sales of new homes rose 19 percent from that of August to 540 billion yuan (US$85.7 billion) as sentiment gradually picked up in the traditional peak season for home sales.
"Capital raising in offshore bond markets have helped some developers to improve their liquidity and debt maturity profiles," Kaven Tsang, a Moody's vice president and senior analyst, said in the "China Property Focus" report yesterday.
So far US$2.32 billion worth of bonds have been issued by property firms since July, exceeding the US$2 billion issued in the first half of the year.
In September, contract sales of new homes rose 19 percent from that of August to 540 billion yuan (US$85.7 billion) as sentiment gradually picked up in the traditional peak season for home sales.
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